Refer to the above table. What is the marginal factor cost when the firm employs the third unit of labor?
A. $62
B. $57
C. $21
D. $25
Answer: D
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Refer to the table above. Suppose that in normal years demand is represented by Case 2 and supply is represented by Case B. If it is discovered that wapanzo beans help prevent cancer, then supply will ________ and demand will ________
A) become case C; become case 1 B) become case C; stay at case 2 C) stay at case B; become case 1 D) become case A; become case 1
When the Fed buys government securities, ________ and the money supply ________
A) e rises, falls B) e falls, rises C) c rises, falls D) c falls, rises E) H rises, rises
In the long run, the price level is determined by aggregate supply
a. True b. False Indicate whether the statement is true or false
To better measure economic well being, GDP needs to: a. find better ways to estimate the value of leisure
b. estimate and factor in the value of the underground economy. c. factor in externalities. d. do any or all of the above.